Eko India Financial Services

bankingtech

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260 VISITORS | 421 VIEWS

FOUNDING YEAR: 2007

LOCATION:

India

REGION:

Haryana

Last Update:
13 Feb, 2020

Global presence:

India

Description

Eko India Financial Services Private Limited provides mobile-based platform for banking, savings, payment, merchant transactions, bill payment, and cash collection services.

FOCUS

PRODUCTS & SERVICES:

Mobile Banking, Cash Management, Money transfers, Payments - Provides all these services via local merchants who act as agents. Currently the company is focused on developing wallet solutions and apps for consumer money transfer/remittances. (Fundu, an app that allows every user to be an ATM by leveraging NPCI's UPI infrastructure is in the alpha-testing phase) Eko provides a low cost financial transaction alternatives at remote customer locations.

REVENUE MODEL:

Viewable by subscribers only

MAIN CLIENTS:

Consumers and retailers

EXISTING PARTNERSHIPS:

NPCI, ICICI bank, Yes bank, SBI, IndusInd, RBL - to power Eko Wallet services. Business Correspondent for SBI and ICICI, as a distribution partner for Bharati AXA Life Insurance. Pine labs - to provide money transfer services at POS. Prabhu Money Group - To provide Indo-Nepal remittance services.

COMMENT

Eko provides banks and customers at remote locations with ways to do financial transactions without requiring to open branches and involving bank staff. Promotes financial inclusion services (targeted to the unbanked and underbanked).

PEOPLE

MEDICI analysts will analyze Eko India Financial Services soon

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MOMENTUM

FUNDED:

YES

TOTAL FUNDING:

$5.5 Millions

DATE OF LAST FUNDING:

May 2018

FUNDING SERIES:

Others

$5.5 Millions Closed: Jul 2011

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Eko India Financial Services

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Eko India Financial Services

Description

FOCUS

PEOPLE

TRACTION

MOMENTUM

MOST VIEWED RESEARCH

RECENT RESEARCH

Innovation Programmes

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